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Binance launches pilot program for bank custody of collateral

Crypto exchange Binance launched a pilot program that allows banks to store trading collateral off-exchange, according to a Nov. 30 announcement. Binance claimed that the program will help to reduce counterparty risk.Binance trading interface. Source: Binance.According to the announcement, the program allows institutions to hold collateral at a third-party bank

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European Central Bank CBDC Can End Bank Crises, Better Than Deposits, Says Former Bank of Spain Chief Ordóñez

"Digital euros are euros, but bank deposits are not euros. Deposits are just promises to pay euros, and if banks can't fulfill those promises, then you get crises emerging," he said, adding that a CBDC would have the benefit of stability, justifying the use of the digital euro instead of

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Standard Chartered Becomes First International Bank to Participate in Digital RMB Business Pilot

China has rolled out its digital RMB interconnection platform with Standard Chartered Bank that is expected to use it in streamlining cross-border payments and other services. The People’s Bank of China (PBoC) has made significant progress in rolling out the digital Renminbi ( e-CNY) during the past year. With about 26

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Singapore central bank chief sees no place for private crypto in the monetary scene

Ravi Menon says the country is instead clearing a path for CBDCs and regulated stablecoins. There will not be a place for private cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in the monetary scene as many of them fail the “fundamental tests of financial services,” Monetary Authority of Singapore’s managing

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